When a business takes advantage of the Work Opportunity Tax Credit (WOTC) program they could receive a tax credit every time they hire a new employee. This federally funded program will reduce your federal income tax liability when you hire unemployed veterans or individuals with documented barriers to employment.

Administered by DEW, the WOTC will provide your business with a 40 percent tax credit on eligible employees’ first year of wages after they have worked 400 hours. (Qualifying wage caps apply.)

With absolutely no limit on the number of qualified hires your business can claim, you can receive anywhere from $2,400 to $9,600 for each one of your eligible employees.

The program is simple. You get to make the hiring decision, and all you have to do is complete minimal paperwork to claim the tax credit.